Whiting Petroleum (WLL) executive Regan returned to the company 4,326 shares

Insider transactions reported

Michael Scott Regan (executive at Whiting Petroleum Corporation, WLL) reported that they returned to the company 4,326 shares on Jul 1, 2022. After these transactions the filing shows 0 shares held directly.

Reporting person

Regan Michael Scott

Options and other derivatives

Holdings before and after

• Common Stock, par value $0.001 per share ( Common Stock ): 4,326 to 0 direct
• Restricted Stock Units 2021: 13,597 to 0 direct
• Performance Share Units (Absolute) 2021: 10,195 to 0 direct
• Performance Share Units (Relative) 2021: 10,195 to 0 direct
• Restricted Stock Units 2022: 6,836 to 0 direct
• Performance Share Units (Absolute) 2022: 5,127 to 0 direct
• Performance Share Units (Relative) 2022: 5,127 to 0 direct
• Warrants to Purchase Shares of Common Stock: 1,283 to 0 direct
• 2022 Special RSU Grant: 10,000 to 0 direct

Footnotes from the filing

1. 1. This Form 4 reports securities disposed of in connection with the Agreement and Plan of Merger, dated March 7, 2022 (as it may be amended or supplemented from time to time, the Merger Agreement ), by and among Oasis Petroleum Inc., a Delaware corporation ( Oasis ), Ohm Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Oasis ( Merger Sub ), New Ohm LLC, a Delaware limited liability company and a wholly owned subsidiary of Oasis, and Whiting Petroleum Corporation, a Delaware corporation ( Whiting ). Pursuant to the Merger Agreement, on July 1, 2022 (the Company Merger Effective Time ), Merger Sub merged with and into Whiting (the Company Merger ), with Whiting continuing its existence as the surviving corporation following the Company Merger as a direct, wholly owned subsidiary of Oasis.
2. 2. Pursuant to the Merger Agreement, any outstanding unvested restricted stock unit ( RSUs ) were assumed by Oasis and converted into the right to receive an RSU of Oasis exchangeable for shares of common stock, par value $0.01 per share ( Oasis Common Stock ), of Oasis. The Merger Agreement was filed by Whiting on March 7, 2022, as Exhibit 2.1 to its Current Report on Form 8-K.
3. 3. Pursuant to the Merger Agreement, at the Company Merger Effective Time, the performance vesting conditions of each performance stock unit ( PSU ) award of Whiting were deemed satisfied based on the greater of (1) the target number of PSUs and (2) achievement of the applicable performance criteria based on a truncated performance period ending immediately prior to the Company Merger Effective Time, with such number of PSUs assumed by Oasis and converted into a right to receive the Merger Consideration upon satisfaction of the original continued service vesting conditions applicable to such PSUs. Based on this performance criteria Whiting expects the PSUs (Absolute) to vest at 200%.
4. 4. Pursuant to the terms of the Merger Agreement, each of the Reporting Person's outstanding warrants to purchase shares of Common Stock ( Warrants ) was assumed by Oasis at the Company Merger Effective Time on nearly equivalent terms and conditions, (i) except that the number of shares of Oasis Common Stock subject to such Warrant was adjusted by the exchange ratio and (ii) the exercise price of such Warrant was reduced by the cash consideration and adjusted by the exchange ratio.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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